Nukkleus Inc. (NasdaqGM:NUKK) has signed a term sheet to acquire Mercury Foreign Exchange Limited on February 14, 2024. Under the proposed agreement, Nukkleus is set to acquire the entire issued share capital of Mercury Global, with the purchase price to be settled in a combination of Nukkleus Inc. common stock and cash. The deal includes an initial equity issue at closing, followed by additional earn-out payments in equity and cash.

These subsequent payments are contingent upon achieving certain milestones related to business volume and client growth, employee retention, banking relationships, and the successful integration of technology. The transaction is subject to Nukkleus receiving relevant regulatory approvals in the UK.